Edison International $EIX Stake Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its stake in shares of Edison International (NYSE:EIX) by 201.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,243 shares of the utilities provider’s stock after buying an additional 8,854 shares during the period. Park Avenue Securities LLC’s holdings in Edison International were worth $732,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Edison International in the second quarter worth approximately $268,801,000. AQR Capital Management LLC lifted its position in shares of Edison International by 83.5% in the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after acquiring an additional 4,534,864 shares in the last quarter. Vanguard Group Inc. boosted its stake in Edison International by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after purchasing an additional 2,386,562 shares during the period. Los Angeles Capital Management LLC grew its position in Edison International by 237.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock worth $98,276,000 after purchasing an additional 1,339,806 shares in the last quarter. Finally, Man Group plc grew its position in Edison International by 109.6% during the 2nd quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock worth $119,409,000 after purchasing an additional 1,209,964 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the transaction, the director owned 35,212 shares in the company, valued at $1,946,167.24. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Edison International Stock Performance

Shares of NYSE EIX opened at $61.61 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. Edison International has a one year low of $47.73 and a one year high of $63.97. The business’s 50-day moving average price is $58.93 and its two-hundred day moving average price is $56.01. The company has a market capitalization of $23.71 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.83.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.7%. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, January 7th. Edison International’s dividend payout ratio is presently 45.88%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen assumed coverage on Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Wells Fargo & Company raised Edison International to a “hold” rating in a research note on Tuesday, October 28th. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, UBS Group increased their price target on shares of Edison International from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus target price of $63.50.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.